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VanEck Semiconductor ETF
SMH

1,062 hedge funds and large institutions have $15.4B invested in VanEck Semiconductor ETF in 2025 Q3 according to their latest regulatory filings, with 138 funds opening new positions, 412 increasing their positions, 310 reducing their positions, and 75 closing their positions.

New
Increased
Maintained
Reduced
Closed

84% more first-time investments, than exits

New positions opened: 138 | Existing positions closed: 75

33% more repeat investments, than reductions

Existing positions increased: 412 | Existing positions reduced: 310

12% more capital invested

Capital invested by funds: $13.8B → $15.4B (+$1.64B)

4% more funds holding

Funds holding: 1,017 → 1,062 (+45)

2% more funds holding in top 10

Funds holding in top 10: 48 → 49 (+1)

6.17% less ownership

Funds ownership: 52.56% → 46.39% (-6.2%)

48% less call options, than puts

Call options by funds: $7.21B | Put options by funds: $13.8B

Holders
1,062
Holders Change
+45
Holders Change %
+4.42%
% of All Funds
13.94%
Holding in Top 10
49
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+2.08%
% of All Funds
0.64%
New
138
Increased
412
Reduced
310
Closed
75
Calls
$7.21B
Puts
$13.8B
Net Calls
-$6.56B
Net Calls Change
-$785M

Top Buyers

1
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
+$223M
2
Morgan Stanley
Morgan Stanley
New York
+$209M
3
LPL Financial
LPL Financial
California
+$99.3M
4
CM
Capula Management
Cayman Islands
+$95.4M
5
Renaissance Technologies
Renaissance Technologies
New York
+$85.7M

Top Sellers

1
Jane Street
Jane Street
New York
-$380M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$203M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$168M
4
MMEA
Main Management ETF Advisors
California
-$148M
5
Belvedere Trading
Belvedere Trading
Illinois
-$112M
Name Holding Trade Value Shares
Change 		Change in
Stake
RIG
51
RiverFront Investment Group
Virginia
$37.7M +$1.69M +5,693 +5%
BlackRock
52
BlackRock
New York
$36.9M -$15.4M -52,058 -32%
PAG
53
Private Advisor Group
New Jersey
$36.5M +$3.34M +11,271 +11%
JG
54
Jain Global
New York
$35.7M +$32.4M +109,335 New
JSAM
55
J. Safra Asset Management
New York
$34.6M +$1.09M +3,681 +4%
Verition Fund Management
56
Verition Fund Management
Connecticut
$33.3M +$4.22M +14,249 +16%
KHLMVGHM
57
Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet
Israel
$33M – – –
Mariner
58
Mariner
Kansas
$31M +$1.41M +4,756 +5%
RWM
59
Rezny Wealth Management
Florida
$30.2M -$766K -2,589 -3%
Wealthfront Advisers
60
Wealthfront Advisers
California
$29.9M +$1.31M +4,433 +5%
Twin Tree Management
61
Twin Tree Management
Texas
$29.4M -$58M -196,070 -68%
RRA
62
Round Rock Advisors
Connecticut
$29.4M +$26.6K +90 +0.1%
Jane Street
63
Jane Street
New York
$29.1M -$380M -1,284,187 -94%
Bank of Montreal
64
Bank of Montreal
Ontario, Canada
$28.6M -$168M -568,554 -87%
KAS
65
Kestra Advisory Services
Texas
$26.9M +$380K +1,284 +2%
KDA
66
Kraft Davis & Associates
Missouri
$26.8M -$8.88K -30 -0%
YC
67
Yarbrough Capital
Tennessee
$26.5M – – –
LWM
68
Lyell Wealth Management
California
$25.2M +$1.34M +4,523 +6%
Focus Partners Wealth
69
Focus Partners Wealth
Massachusetts
$24.2M +$118K +400 +0.5%
Fidelity Investments
70
Fidelity Investments
Massachusetts
$23.8M +$15.6M +52,760 +262%
CIBC World Market
71
CIBC World Market
Ontario, Canada
$23.4M +$1.22M +4,116 +6%
SF
72
Summit Financial
New Jersey
$23.2M +$19.3M +65,207 +1,111%
TWC
73
TD Waterhouse Canada
Ontario, Canada
$22.9M +$200K +676 +1%
KA
74
Kozak & Associates
Colorado
$22.6M -$2.48M -8,361 -11%
Janney Montgomery Scott
75
Janney Montgomery Scott
Pennsylvania
$22.4M +$618K +2,089 +3%
1 2
3
4 5

SMH Hedge Fund Activity: Q3 2025 in Review

1,062 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in VanEck Semiconductor ETF (SMH) for Q3 2025, worth a combined $15.4B — up 12% from $13.8B a quarter earlier.

Buyers outnumbered sellers: 138 funds opened new SMH positions and 75 closed out — a net gain of 63 holders — while 412 added to existing stakes and 310 trimmed.

The largest buyer was Bank of Nova Scotia, adding an estimated $223M. The largest seller was Jane Street, cutting an estimated $380M.

  • 1,062 institutional investors held VanEck Semiconductor ETF (SMH) as of Q3 2025, up from 1,017 in Q2 2025.
  • Funds reported $15.4B of VanEck Semiconductor ETF stock for Q3 2025, up 12% quarter-over-quarter.
  • 138 funds opened new VanEck Semiconductor ETF positions in Q3 2025 and 75 closed out, a net change of +63 holders.
  • The largest VanEck Semiconductor ETF buyer in Q3 2025 was Bank of Nova Scotia, an estimated $223M added.
  • The largest VanEck Semiconductor ETF seller in Q3 2025 was Jane Street, an estimated $380M sold.

Based on aggregated 13F filings for Q3 2025.